Q3 2016 Earnings Estimate for eBay Inc. Issued By SunTrust Banks (EBAY)
eBay Inc. (NASDAQ:EBAY) – SunTrust Banks increased their Q3 2016 EPS estimates for shares of eBay in a note issued to investors on Monday. SunTrust Banks analyst R. Peck now expects that the brokerage will earn $0.37 per share for the quarter, up from their prior estimate of $0.36. SunTrust Banks currently has a “Hold” rating and a $33.00 target price on the stock. SunTrust Banks also issued estimates for eBay’s FY2016 earnings at $1.61 EPS.
eBay (NASDAQ:EBAY) last announced its quarterly earnings results on Wednesday, July 20th. The e-commerce company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. eBay had a return on equity of 29.12% and a net margin of 22.00%. The company earned $2.23 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the previous year, the company posted $0.42 earnings per share. eBay’s revenue for the quarter was up 5.7% on a year-over-year basis.
A number of other research firms also recently weighed in on EBAY. Pacific Crest downgraded eBay to a “sell” rating in a research note on Saturday, October 1st. Canaccord Genuity restated a “hold” rating and issued a $28.00 price target on shares of eBay in a research note on Tuesday, October 4th. Goldman Sachs Group Inc. set a $34.00 price target on eBay and gave the company a “buy” rating in a research note on Thursday, September 8th. Axiom Securities lifted their price target on eBay from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, September 13th. Finally, Robert W. Baird restated an “outperform” rating and issued a $35.00 price target on shares of eBay in a research note on Saturday, September 10th. Three research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.22.
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Shares of eBay (NASDAQ:EBAY) traded down 1.63% on Tuesday, reaching $31.43. The company’s stock had a trading volume of 3,602,378 shares. The stock has a 50-day moving average price of $31.92 and a 200-day moving average price of $27.29. The company has a market capitalization of $35.49 billion, a price-to-earnings ratio of 19.32 and a beta of 1.17. eBay has a 1-year low of $21.52 and a 1-year high of $33.19.
Several hedge funds have recently added to or reduced their stakes in EBAY. Magellan Asset Management Ltd raised its stake in shares of eBay by 16.1% in the second quarter. Magellan Asset Management Ltd now owns 42,152,135 shares of the e-commerce company’s stock valued at $986,781,000 after buying an additional 5,833,160 shares in the last quarter. Boston Partners raised its stake in shares of eBay by 10.8% in the second quarter. Boston Partners now owns 25,328,551 shares of the e-commerce company’s stock valued at $592,941,000 after buying an additional 2,463,595 shares in the last quarter. Independent Franchise Partners LLP raised its stake in shares of eBay by 17.6% in the second quarter. Independent Franchise Partners LLP now owns 23,263,787 shares of the e-commerce company’s stock valued at $544,605,000 after buying an additional 3,485,706 shares in the last quarter. FMR LLC raised its stake in shares of eBay by 183.0% in the second quarter. FMR LLC now owns 21,402,518 shares of the e-commerce company’s stock valued at $501,033,000 after buying an additional 13,838,953 shares in the last quarter. Finally, Fiduciary Management Inc. WI raised its stake in shares of eBay by 7.7% in the first quarter. Fiduciary Management Inc. WI now owns 19,016,842 shares of the e-commerce company’s stock valued at $453,742,000 after buying an additional 1,367,451 shares in the last quarter. Institutional investors own 82.00% of the company’s stock.
In other news, Director Robert Holmes Swan sold 50,000 shares of the stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $31.95, for a total value of $1,597,500.00. Following the completion of the sale, the director now owns 375,928 shares in the company, valued at $12,010,899.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Raymond J. Pittman sold 39,030 shares of the stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $32.14, for a total value of $1,254,424.20. Following the completion of the sale, the senior vice president now owns 32,738 shares of the company’s stock, valued at approximately $1,052,199.32. The disclosure for this sale can be found here. 7.40% of the stock is owned by insiders.
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company helps in enabling commerce on its platforms for buyers and sellers online. The Company has an open source platform that provides software developers and merchants an access to its application programming interfaces for developing software and solutions for commerce.
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